PSEG Q2 2023 Earnings Report

PSEG's second quarter results were announced, with net income at $1.18 per share and non-GAAP operating earnings at $0.70 per share. The company reaffirmed its full-year non-GAAP operating EPS guidance.

Key Takeaways

Public Service Enterprise Group (PSEG) reported a strong second quarter in 2023, with Net Income of $591 million, or $1.18 per share, and Non-GAAP Operating Earnings of $351 million, or $0.70 per share. The company reaffirmed its full-year 2023 non-GAAP Operating Earnings guidance of $3.40 to $3.50 per share.

PSEG's year-to-date financial results are on track.

Growth in regulated operations and effective cost controls are offsetting headwinds.

Full-year 2023 capital spending budget is $3.5 billion.

Completed the sale of PSEG’s investment in offshore wind generation.

Total Revenue

$2.42B

Previous year: $2.08B